3 Reasons Why the Cryptocurrency Scene Needs to Change

3 Reasons Why the Cryptocurrency Scene Needs to Change

Blog by Dagcoin

Cryptocurrency has a bit of a PR problem. While a lot of it is just the growing pains of a technology becoming mainstream, there is a lot that can be done within the movement itself. Here’s three things that need to change.

1. Still a niche topic

We have come to the stage where media finally talks regularly about cryptocurrency. While some outlets still consider it a curiosity or even a scheme, there’s a fair amount of them that actually take an unbiased approach to both the benefits and dangers of the field.

What we still need to reach within the field as a whole is user-friendliness and approachability. For example, if you look for guides on cryptocurrency, the format of some of the most popular results tend to be either too technical or even fishy. Cryptocurrency needs to shed its cryptic image for it to become a valid means of finance and trading.

2. Apocalyptic issues

Since cryptocurrency is still at an early stage mainstreaming, any issues it faces are overblown and heralded as its doom. One of the recent ones that had the media buzzing was Bitcoin’s huge increase in confirmation time in January. Bitcoin had long been advertised as a quick means transacting currency, but now, to avoid another PR disaster, official sources no longer claim this benefit.

What the world outside of the cryptocurrency scene doesn’t see is the large amount of work put into improving all its qualities or the fact that there are already some solutions. Communication must be kept going on how cryptocurrencies can be and actually are a more efficient alternative to everyday banking, for example.

3. Short-term plans

The issue with confirmation speeds within the Blockchain feeds the assumption that keeps on following all cryptocurrencies, that these are only short-lived schemes with no plans past the first decade (at best). ‘Pump & dump’ remains a strategy among some miners, but the new average user that looks for something better than their unreliable online bank will find little value in that.

The amount of currencies that actually function on a bubble does not help with the image. Of course, being open to all can mean openness to shady strategies, but if the future goal is to replace outdated finance systems, then cryptocurrencies must be made with a long-term plan.

Dagcoin aims for the change

The true aim for a lot of cryptocurrencies today is unknown. Several emerged from mysterious sources and their role in changing the finance world today has been more of a side effect than a true goal.

Dagcoin is different, our plan is to have a cryptocurrency that is easy to use by all, faces any issues that might emerge openly and to keep up with it for decades to come.